Rêv Worldwide (Rêv), in partnership with funds advised by Searchlight Capital Partners (Searchlight), is to acquire the Netspend consumer business from Global Payments in an all cash transaction valued at $1 billion.
Leveraging its proprietary multi-currency payments and loyalty product platform, Rêv provides mobile-first payment solutions and offers banking-as-a-service capabilities for partners around the world, such as Etihad Airways, Itaú Private Bank, LATAM Airlines; as well as direct-to-consumer branded products owned and managed by Rêv, such as the recently launched X World Wallet currently available in the U.S.
The transaction is expected to close in the first quarter of 2023 subject to relevant regulatory approvals, and customary closing conditions.
Read more: Private Equity Wire
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